SolarCity Debuts Rooftop Solar Panel-Backed Bonds

SolarCity Debuts Rooftop Solar Panel-Backed Bonds

SolarCity has become the first U.S. company to offer bonds backed by rooftop solar panels, selling $54.4 million in a transaction that closed in mid-November.

Credit Suisse acted as sole structuring agent and bookrunner for the transaction. The deal involves $54.4 million in financing at an interest rate of 4.8 percent, and it matures in December 2026.

This securitization is only the beginning, as SolarCity plans to sell as much as $200 million in notes in the

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